platinum priced in goldNO GO for #platinum (priced in #gold), until this happens...
Use charts, avoid opportunity cost.
notes
couple of FBO
nothing to do below this line
TPLM1! trade ideas
PLATINUM BREAKOUTS X 3 Platinum Futures
At present Precious Metals all seem to have the wind at their back on longer timeframes.
- A H&S pattern with a potential breakout within a
- Cup&handle with a potential breakout within a
- A long term pennant with a potential breakout.
RSI Indications
- You can see how the green/red circles and resistance lines provided great entries and exits.
- We are approaching the upped resistance line and I would expect some resistance here which aligns with the resistance of the Cup and Handle (which aligns with historic price resistance)
- Use the RSI resistance lines to help manage risk.
In summary I am long term bullish however if we breach the bottom of the long term pennant... we exit the trade. RR is great here if you set a stop under the pennant resistance, this being for a long term 36 - 60 motnh trade.
There are also lots of short term opportunities in this chart from the three patterns identified. These you can see and manage within your own timelines using the chart lines as reference points for buy and sells.
Thanks
PUKA
Platinum Futures ( PL1! ), H4 Potential for Bearish DropTitle: Platinum Futures ( PL1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1068.8
Pivot: 1022.0
Support: 971.4
Preferred case: Looking at the H4 chart, my overall bias for PL1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to retest the pivot at 1022.0, where the overlap resistance and 38.2% Fibonacci line is before heading towards the support at 971.4 where the previous swing low is.
Alternative scenario: Price could possibly break the pivot at 1022.0, where the overlap resistance and 38.2% Fibonacci line is before heading towards the resistance at 1068.8, where the recent high is
Fundamentals: There are no major news.
Platinum Futures ( PL1! ), H4 Potential for Bearish DropTitle: Platinum Futures ( PL1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1068.8
Pivot: 1022.0
Support: 971.4
Preferred case: Looking at the H4 chart, my overall bias for PL1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to retest the pivot at 1022.0, where the overlap resistance and 38.2% Fibonacci line is before heading towards the support at 971.4 where the previous swing low is.
Alternative scenario: Price could possibly break the pivot at 1022.0, where the overlap resistance and 38.2% Fibonacci line is before heading towards the resistance at 1068.8, where the recent high is
Fundamentals: There are no major news.
PLATINUM FUTURES PROBABILTYIm thinking this could be a strong short term entry which could be held strong in its bullish momentum over a long term period of time since market structure has already broke above the DAILY EQUAL HIGHS marked in the blue zone. COMMENTS ON THIS TRADE WILL BE MUCH APPRECIATED.
PLATINUMHELLO GUYS THIS MY IDEA 💡ABOUT PL1! is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this LONG position..
and when the price come back to this area, strong buyers will be push up the market again..
UP TREND + Resistance from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like and follow thanks
Platinum to hit 990 then Rise HigherKeep an eye on platinum to hit 990 then rise higher
-Inflation has not be curved yet
-Interest rate continue higher
-until those reverse Things will continue to be more expensive
Limit order @ 990
SL@ 9825 (Risk -750 Per contract)
1st TP @ 1050(+2500)
2nd TP @ 1090(+3500)
Platinum - a new 🐂 marketThe Bear market in Platinum characterised by a 15 year downtrend in a Descending triangle formation has broken out a second time (first being a headfake) coupled with the severe historical undervaluation when comparing against M2 strengthens the idea of a renewed bull market past $3000 over the next 3-5 years if historical bull markets are anything to go by.
Platinum is currently being considered as one of the primary metals in assisting chemical reactions taking place in EV vehicles in order to increase efficiency; a desperate state of affairs despite it being touted as Green Energy; heavy demand could ironically come from this market which was seen as a deflationary force on Platinum. For these reasons Platinum is a serious bet to go Long.
Platinum Futures ( PL1! ), H4 Potential for Bullish MomentumTitle: Platinum Futures ( PL1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 1037.8
Pivot: 974.3
Support: 940.9
Preferred case: The current bias for PL1! on the H4 chart is bullish . To add to this bias, the price is currently trading above the Ichimoku cloud and ascending trendline, indicating a bullish market. If the bullish momentum continues, price may head towards the resistance at 1037.8, where the previous high is located.
Alternative scenario: Price may retrace downwards and head towards the 940.9 support level , where the 61.8% Fibonacci line is located.
Fundamentals: There are no major news.
Platinum Futures ( PL1! ), H4 Potential for Bullish MomentumTitle: Platinum Futures ( PL1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 1037.8
Pivot: 974.3
Support: 940.9
Preferred case: The current bias for PL1! on the H4 chart is bullish. To add to this bias, the price is currently trading above the Ichimoku cloud and ascending trendline, indicating a bullish market. If the bullish momentum continues, price may head towards the resistance at 1037.8, where the previous high is located.
Alternative scenario: Price may retrace downwards and head towards the 940.9 support level, where the 61.8% Fibonacci line is located.
Fundamentals: There are no major news.
Platinum Futures ( PL1!), H4 Potential for Bearish MomentumType: Bearish Momentum
Resistance: 975.5
Pivot: 940.7
Support: 914.0
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing the Ichimoku cloud and breaking ascending channel , which indicate a bearish market. The price may drop from the pivot at 940.7, which is in line with the 38.2% fibonacci retracement to the 1st support at 914.0, where the swing low and 61.8% fibonacci retracement are.
Alternative scenario: Price may rise to the 1st resistance at 975.5, where the swing highs are.
Fundamentals: There are no major news.
Platinum Futures ( PL1!), H4 Potential for Bearish MomentumType: Bearish Momentum
Resistance: 975.5
Pivot: 940.7
Support: 914.0
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing the Ichimoku cloud and breaking ascending channel, which indicate a bearish market. The price may drop from the pivot at 940.7, which is in line with the 38.2% fibonacci retracement to the 1st support at 914.0, where the swing low and 61.8% fibonacci retracement are.
Alternative scenario: Price may rise to the 1st resistance at 975.5, where the swing highs are.
Fundamentals: There are no major news.
Platinum Futures ( PL1!), H4 Potential for Bullish MomentumType: Bullish Momentum
Resistance: 975.5
Pivot: 939.4
Support: 914.0
Preferred case: On the H4 chart, we have a bullish bias. To add confluence to this, price is above the Ichimoku cloud and ascending channel , which indicate a bullish market. The price may rise from the pivot at 939.4, which is in line with the 38.2% fibonacci retracement to the 1st resistance at 975.5, where the swing highs are.
Alternative scenario: Price may drop to the 1st support at 914.0, where the swing low and 61.8% fibonacci retracement are.
Fundamentals: There are no major news.
Platinum Futures ( PL1!), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 975.5
Pivot: 939.4
Support: 914.0
Preferred case: On the H4 chart, we have a bullish bias. To add confluence to this, price is above the Ichimoku cloud and ascending channel, which indicate a bullish market. The price may rise from the pivot at 939.4, which is in line with the 38.2% fibonacci retracement to the 1st resistance at 975.5, where the swing highs are.
Alternative scenario: Price may drop to the 1st support at 914.0, where the swing low and 61.8% fibonacci retracement are.
Fundamentals: There are no major news.
Platinum (PL): Wave Analysis 1917-2022●● Preferred count
● Platinum Cash (PL.C), 🕐TF: 20D
Fif.1
The counting of long-term waves only confirmed the priority of the scenario defined in the previous review, in the context of which the supercycly wave (V) unfolds the ending diagonal . This hypothesis assumes the continuation of price growth within wave III , which will take the form of a zigzag, exceeding the maximum of wave I .
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● Platinum Futures (NYMEX) , 🕐TF: 1D
Fif.2
The wave Ⓐ in the composition of III of (V) must also take the form of a diagonal . At least, the double zigzag that formed from the top of wave II can be interpreted in a general context as the first wave in its composition.
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● Platinum Futures (NYMEX) , 🕐TF: 8h
Fif.3
According to the structure, the second wave of intermediate degree can be identified as a double zigzag W-X-Y with a combination in X . Moreover, wave (2) reached a level that created several Fibonacci ratios: wave Y = 61.8% W , while (2) = 61.8% (1) . Quite powerful the argument in favor of the fact that the downward correction is over. The breakdown of the 0-X line will serve as an additional signal in favor of this assumption.
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●● Alternative count
● Platinum Futures (NYMEX) , 🕐TF: 8h
Fif.4
The alternative markup tells us that the correction within wave (2) will continue. A series of overlapping zigzags in a downtrend can be identified as the leading diagonal in wave A . If this interpretation turns out to be correct, then after correction in wave B , the minimum of 797.5 formed by wave A will be rearranged within the impulse C .
📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️
